Al Ghanem: "in 2017, we target international markets to further develop the bank's real estate investments while delivering steady and growing returns to our shareholders."
In-line with its development strategy to position the bank as the Islamic Corporate & Investment Banking champion in Kuwait while providing top-notch Islamic banking and investment’s services, Warba Bank is proud to announce that it has recently purchased a newly constructed sole UK vehicle imports / exports facility strategically located on Kiln Lane Industrial Estate, just one and a half miles from the docks at nearby Immingham, which receives imported vehicles from Korea to UK, and also from other manufacturing plants in Europe. The Ports of Immingham and Grimsby combined are the UK’s largest ports by tonnage, handling up to 60 million tonnes, including nearly 20 million tonnes of oil and 10 million tonnes of coal per annum.
Commenting on the new acquisition, Mr. Shaheen Hamed Al Ghanem, Warba Bank’s CEO said: “we see in this acquisition the start of the bank’s vigorous international real estate investment program in order to ensure steady and secured returns for the investors and depositors. The Investment Banking Group is fully committed to make risk mitigated investments strictly following the investment policy and procedures with a target to generate secured long term returns for the bank and its investors”.
Al Ghanem further added: “This acquisition is one of the best risks mitigated real estate investment of the bank generating a steady and secured return benefiting from unbreakable long lease to one of the largest car manufacturer of Asia that would set standards for our future investment program”
Recently, Warba bank has recorded a tremendous success in the underwriting of its USD 250 million Sukuk, which have attracted investors form Kuwait, MENA region and beyond. Warba Sukuk achieved 5 more times the issuance value with approx. 1.3 USD billion; they have been recently listed in Nasdaq Dubai and are scheduled for listing in the Irish stock exchange soon.
About Warba Bank:
Warba Bank was established pursuant to Emiri decree and officially registered as an Islamic bank by the Kuwaiti central bank on 5 April, 2010. It offers a bundle of comprehensive integrated services and banking solutions that comply with the Islamic sharia jurisdiction, and such services are offered through three groups or services, namely, the Banking Group, the Company Financing Group and the Investment and Treasury Group. The bank has 11 branches in strategic locations with over 350 employees working under its umbrella.
For more information, please call TMCC Public Relations:
Yomna Saraya /Account executive
Office: 965 22916572
© Press Release 2017
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